Mind the trap: The unintended consequences of pensions flexibility

Few would argue that the pensions reforms to be introduced next April are not to be welcomed. Having greater choice and greater flexibility over pension arrangements is surely a good thing. However, we believe that with greater choice and flexibility there is also a greater risk that, without professional financial advice, a lot of people will not achieve their financial expectations in retirement. The new pensions legislation announced by the Chancellor in the last Budget came as a surprise to many in the industry, but has, on the whole, been embraced as a positive step. But, whil...